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2012 Archives
2-23-12
Kinder Morgan to decide on TransMountain expansion by March - Financial Post, Rebecca Penty - Kinder Morgan Energy Partners LP said Tuesday it has received commercial support to decide by the end of March on a $3.8-billion expansion of the Trans Mountain oil pipeline that could double existing capacity to connect growing Alberta oil sands production with Canada’s West Coast.
Interior Alaska senators seek gas line from Cook Inlet – Fairbanks Daily News Miner - The bill would draw on work already done under the mothballed Beluga to Fairbanks line studied by the Alaska Natural Gasline Development Authority and the Alaska Stand Alone Pipline. Because of lower costs of building a shorter line, using existing infrastructure and lower construction costs, the senators said they believe this plan would be the fastest, cheapest way to deliver natural gas to the Interior.
Canadian oil: Could some of it be headed for California? - Los Angeles Times, Kim Murphy - Analysts say California could see as much as half of the oil transported out of the tar sands of northern Alberta to a port on the coast of British Columbia, where it would be loaded onto tankers for destinations as yet unknown.
Oil firm may go with the flow - The Province, Scott Haggett - Kinder Morgan Energy Partners LP said on Tuesday it has received enough binding commitments from shippers to begin design work on a proposed $3.8 billion project that would double the size of its 300,000-barrel-per-day Trans Mountain oil pipeline from Alberta to Vancouver.
How to Play the Potential of LNG Exports - InvestorPlace, Aaron Levitt - As prices continue to hover around these historic levels, U.S. producers have begun the process of either idling wells or looking outward for other sources of demand. One answer could be found in Asia. The region’s unquenchable thirst for energy could be the key for the United States to unlock its potential as powerhouse natural gas exporter. For investors, playing these exports could be the best way to bet on the domestic natural gas sector.
2-22-12
The American Energy Alliance says, "If the President's allies would stop suing, we could double U.S. proven reserves he refers to as "only 2% of the world's oil" right away." Bloomberg (2/22/12) reports: Royal Dutch Shell Plc’s air pollution permits for offshore oil drilling in Alaska were challenged by environmental groups who said the permits violate the U.S. Clean Air Act…The Alaska Wilderness League and eight other organizations filed a petition with the U.S. Court of Appeals in San Francisco on Feb. 17, asking it to review two permits the U.S. Environmental Protection Agency granted Shell to operate its Discoverer drillship in the Sea of Beaufort and the Sea of Chukchi…“As early as this summer, the Discoverer drillship and other vessels in Shell’s fleet could be in the Chukchi Sea or Beaufort Sea of the Arctic Ocean where they will pump tens of thousands of tons of pollution into pristine Arctic skies,” the groups said in a statement today.
Red State: Obama’s Energy Policy is Hurting the American Dream 
**Podcast interview with David Holt** (NGP Photo) - On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by David Holt to Obama’s hostile energy policy, the critical importance of the Keystone XL pipeline, and how a growing energy industry can help revive the American dream.
Simons: Harnessing oilsands won't cause 'climate calamity' - Calgary Herald - Swart and Weaver say the biggest potential contributors to global warming are non-conventional gasand coal. The two scientists certainly don't give the oilsands a free pass. They note that their paper doesn't weigh the other environmental consequences ...
Point missed on oilsands report, say researchers - Calgary Herald - The commentary, published in the British scientific journal Nature Climate Change, estimated the effect of consuming the fuel from oilsands deposits - without factoring in greenhouse gas emissions associated with extraction and production - would be ...
2-21-12 - President Usurps Congressional Authority and Seeks to Zone and Restrict Ocean Use Before Election Day!
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Another Critical Deadline for Comment; Please Do. Here's Why:
Dear Readers:
The Obama administration threatens
 to approve and implement a "Zoning of The Oceans" -- by this Spring, well before the presidential election -- and further hinder our freedom and ability to create jobs and achieve energy independence by developing our own fossil and renewable energy, commercial fishing, recreational and other resources and activities (i.e. like ocean transportation). See our earlier comments on this Obama initiative taken by Executive Order without Congressional authorization and which places an additional regulatory overlay across our (i.e. already highly regulated) oceans and water systems flowing into them. It is truly a case of, "Freedom Supressed and Government Gone Wild", 1, 2, 3. While the White House says, "Need for Congressional Authorization is a Myth", the President and his chicken house full of crafty, activist foxes are truly annexing Congressional authority by calling his zoning initiative a restructuring of government services. It is like a belligerent, passive-aggressive teenager who says, "I was home by midnight. Technically, I didn't disobey you when I drove with my friends to Chicago. I didn't tell you we wouldn't go there and, remember, I was home by midnight."
The National Ocean Policy Draft Implementation Plan proposes more than 53 federal actions and nearly 300 milestones that call for, among other things:
The National Ocean Council, which spends many millions of dollars of agencies Obama has ordered to participate is currently accepting comments on the Draft Implementation Plan. The National Ocean Policy has already been cited as justification in part for not allowing any Outer Continental Shelf oil and gas leasing to take place outside the Gulf of Mexico and limited areas in Alaska until at least 2017. Implementation of the National Ocean Policy, as currently proposed, will limit domestic energy development and other valid and responsible use of the oceans -- including wind energy projects -- and will further harm our nation’s economy.
IS THE CONGRESS SLEEPING AS ITS AUTHORITY IS BEING USURPED BY AN OVERREACHING EXECUTIVE?
Make sure the National Ocean Council hears from you before its comment deadline, next Monday, February 27. Copy Members of Congress. Put your comment in the comment space below or send it to us for later publication. Feel free to edit the Consumer Energy Alliance letter here as you see fit. For more information on how these policies may affect you, listen to the National Ocean Policy Coalition.
Never give up.
Dave Harbour
Publisher
Northern Gas Pipelines
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Canadian Natural Gas Declines as Mild US Weather Pares Demand, Bloomberg - Pipeline Flows Gas was flowing at a daily rate of 2.53 billion cubic feet at Empress, Alberta, where the fuel is transferred to TransCanada's main line. At McNeil, Saskatchewan, where gas is transferred to the Northern Border Pipeline for shipment to ...
ADN. BP says it's working to meet customer demand as its Cherry Point refinery in Washington state remains idle following a fire.
Bloomberg: Oil profits slide fastest since Lehman collapse on gas - Profits for the biggest U.S. energy producers including Exxon Mobil Corp. (XOM) are poised to decline the most since the financial meltdown of 2008-09 as the drilling technique known as fracking collapses natural gas prices. Exxon and Chesapeake Energy Corp. (CHK), which today reports 2011 earnings, will see net income in 2012 slide about 8 percent and 10 percent, respectively, according to the mean of analyst estimates compiled by Bloomberg.
2-20-12
How they voted - Chicago Post-Tribune - OIL EXPORTS AND KEYSTONE XL PIPELINE: The House rejected an amendment sponsored by Rep. Edward Markey, D-Mass., to the Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act (H.R. 3408). The amendment would have required oil transported by the Keystone XL pipeline to be used in the U.S. unless a presidential waiver was granted on the grounds that exporting the oil would not increase prices or would not increase dependence on imports from hostile nations. The vote, on Feb. 15, was 173 yeas to 254 nays. (The House of Representatives passed out significant energy legislation last week. We will see what the Senate does. - AG)
Tax advice: Fundamental reform is needed in the oil patch – Fairbanks Daily News Miner, Editorial - “The three major oil companies are in a ‘harvesting mode,’ which means their main objective is drawing cash out of Alaska to invest elsewhere,” van Meurs told the committees during his presentation Tuesday. “The reasons for this are: No large and attractive projects available in Alaska under current fiscal terms for major oil companies (and) attractive opportunities outside Alaska.”
Alaska must sustain oil production: Falling investments should be reversed – Fairbanks Daily News Miner, Cynthia Henry - The reason is Alaska’s high production tax, ACES. Under ACES, there is little incentive to invest in the legacy fields, which hold much of the oil. As ConocoPhillips’ chief economist told Meet Alaska: “Alaska has the highest tax rate of any of the developed countries that ConocoPhillips might operate in. And of course that tax rate goes up substantially as the oil price goes up. So there is no upside for investment in Alaska.”
Domestic production eyed as gas prices head toward record-breaking height - Fox News - Nationally, gas prices are $3.53 a gallon, up 25 cents since Jan. 1, and likely headed to $4.25 a gallon by late April. Republicans have demanded more oil production at home, as well as building the Keystone XL pipeline across the middle of the U.S. to allow oil from Canada to reach Texas refineries.
Canada threatens trade war with EU over tar sands - The Guardian, Damian Carrington - "Canada will not hesitate to defend its interests, including at the World Trade Organisation," state letters sent to European commissioners by Canada's ambassador to the EU and its oil minister, released under freedom of information laws.
Mitsubishi to Invest in Encana's Natural Gas Development Project in British Columbia, Canada - Market Watch - MC has established a wholly owned subsidiary company Cutbank Dawson Gas Resources Ltd that will become the Partner to CRP. Under the transaction agreements, MC will pay CAD$1.45 billion as an upfront payment upon closing, and will also pay another CAD$1.45 billion over the coming five years that will be used to fund an incremental 30%, in addition to MC's 40% of the Partnership capital investments, to develop CRP's asset in accordance with an agreed-upon development plan.
2-19-12
Korea to raise self-supply of oil, natural gas to 35% - Korea Herald - Korea will develop on its own 35 percent of its oil and natural gas demands by 2020, up from the current 13.7 percent, the Ministry of Knowledge Economy said Thursday amid U.S. pressure to cut its crude oil imports from Iran.
Alaska’s oil taxes too high, too complex, consultant tells legislators - Alaska Journal of Commerce, Tim Bradner - A consultant retained by Alaska’s Legislature has recommended the state rein in taxes on oil production to attract industry investment but also to dismantle a complex set of exploration and development incentives that gives away too much, with the state paying as much as 80 percent of the cost of new exploration wells, state lawmakers were told in hearings Thursday.
Shell Clears Major Hurdle in Its Bid for New Arctic Drilling - The New York Times, John M. Broder and Clifford Krauss - Shell still must obtain permits from the Environmental Protection Agency for wastewater discharge and from the Interior Department’s Bureau of Safety and Environmental Enforcement to drill each specific well. The company must also demonstrate that its well-capping technology can work in the harsh conditions of the Arctic, and its drilling program must survive any court challenges.
Murkowski Applauds Approval of Shell’s Arctic Spill Prevention Plan - Alaska Native News, Office of Senator Lisa Murkowski - “I appreciate Interior’s final approval of Shell’s contingency plan for the Chukchi,” Murkowski said. “Today’s decision confirms what we’ve known for some time – that Shell has put together a robust and comprehensive spill prevention and response plan that offers the highest level of environmental protection.”
Crews Set to Begin Thawing Out Rig Over Blown Out Test Well - Alaska Public.org, Lori Townsend - No workers were injured or oil spilled at the well near the mouth of the Colville River. The Department of Environmental Conservation estimates about 42,000 gallons of drilling mud were released on the gravel pad and snow-covered tundra.
2-18-12
Oil company still trying to control Alaska well blowout, help on the way - Alaska Dispatch, Craig Medred - A North Slope oil rig was evacuated Wednesday after a Repsol drilling contractor hit a pocket of gas that triggered a methane blowout. The venting gas sparked fears the rig could explode, but the rig was intact and Repsol was reported to be working toward control of the situation.
Alberta finance minister says politics got in the way of a good economic decision - The Register, Rob Gillies - "We all saw what happens when politics gets in the way of good economic decisions and I'm referring of course to the Keystone XL pipeline decision in the United States," Liepert said.
Federal judge refuses to wade in to ongoing dispute over Exxon Valdez oil spill cleanup - The Washington Post Business - A federal judge on Wednesday refused Exxon Mobil Corp.’s request that he declare government efforts to seek additional cleanup funds related to the Exxon Valdez oil spill a violation of a consent decree.
New pipeline proposed across North Dakota - Grand Forks Herald, Stephen J. Lee - A western Colorado firm announced plans this week to build a pipeline across North Dakota from the Oil Patch past Devils Lake and Grand Forks to the big market hub near Clearbrook, Minn., by late 2013.
Wyoming lawmakers join Alaskans in satirical Central Park legislation - Anchorage Daily News - Wyoming lawmakers, impressed by a tongue-in-cheek proposal from the Alaska Legislature for a federal takeover of New York's Central Park, are suggesting that the feds reintroduce wolves and other endangered species in Central Park.
2-17-12 - House Majority Passes ANWR - House Minority Attacks LNG Exports
Here is how to order Cindy Roberts' (NGP Photo) new gas pipeline book, Cracking the Code 2012: A Citizen's Guide to the Alaska Natural Gas Pipeline Discussion.
HOUSE MAJORITY. Yesterday the Full House of Representatives passed H.R. 3408, with a bipartisan vote of 237-187. The legislation is a bipartisan plan to expand offshore energy production, open less than three percent of ANWR for oil and natural gas production, encourage the development of 1.5 trillion barrels of oil shale in the Rocky Mountain West, and approve the Keystone XL pipeline. The plan will create over 1.2 million jobs, raise over $4.3 billion in new federal revenues, help lower gasoline prices and strengthen our national and economic security.
HOUSE MINORITY. Press Action. The movement to stop the export of domestically produced natural gas in the United States continues to gain momentum, as Rep. Edward Markey, D-Mass., introduced two pieces of legislation this week that would limit the ability of companies to ship liquefied natural gas overseas.
(Commentary: As Alaska seeks to impose more and more tax and regulatory controls on the oil industry -- and consider direct ownership of pipelines and hydroelectric dams -- we draw attention to this new study released this week. Thanks to reader, A.T. for this link. -dh) Stanford University News by Mark Golden. To maintain power, oil-rich governments often lean on their national oil companies in ways that hurt the environment, damage their companies' efficiency and raise prices for the rest of the world, according to Stanford University researcher Mark Thurber. The state-owned oil companies, like Saudi Aramco, Petróleos de Venezuela and China National Petroleum Corp., control 73 percent of the world's oil reserves, dwarfing the ExxonMobils of the world. Beyond just producing profits for their central governments, the national oil companies (known as NOCs) are often saddled with tasks such as heavily subsidizing domestic energy consumption and employing thousands of unneeded workers with good political connections. "You might think that the NOCs would be good for the environment because they are partly the cause of today's high oil prices, and high prices should lead to less consumption and less pollution, but that isn't the case," said Thurber, co-editor of, and contributor to, the new bookOil and Governance: State-Owned Enterprises and the World Energy Supply (Cambridge University Press, 2012).
Fairbanks News Miner by Matt Buxton. Less than two months after the Borough Assembly signed off on a study on building a natural gas distribution network in the Fairbanks North Star Borough, assemblymembers heard preliminary results during a work session Thursday night.
Eureka Alert (12/16/12) reports: Hydraulic fracturing of shale formations to extract natural gas has no direct connection to reports of groundwater contamination, based on evidence reviewed in a study released Thursday by the Energy Institute at The University of Texas at Austin…The study, released at the annual meeting of the American Association for the Advancement of Science (AAAS) in Vancouver, British Columbia, found that many problems ascribed to hydraulic fracturing are related to processes common to all oil and gas drilling operations, such as casing failures or poor cement jobs.
The Hill (12/16/12) reports: Energy Secretary Steven Chu said Thursday he is confident the federal government will lose less money on the Energy Department’s loan program than a recent analysis predicted…The analysis, which was mandated by the White House in the aftermath of the Solyndra collapse, estimated that the federal government could lose up to $3 billion from the loan program…“I would be very surprised if we lost that,” Chu told reporters Thursday after testifying before the Senate Energy and Natural Resources Committee on his department’s budget blueprint.
The Hill: Opponents of Keystone pipeline are threatening US jobs (op-ed) - Democrats have launched their latest attack on export-led job creation, this time piggybacking on anti-oil sentiment to oppose the Keystone XL pipeline. The pipeline would bring crude from the vast oil sands deposits in Canada to American refineries along the Gulf, creating thousands of private sector jobs.
